Yes, you can get LED lights that go in ordinary cans, or even some that fit into ordinary boxes if your ceiling area won't allow for the depth of cans. I have a mix of cans and boxes in my kitchen ceiling, and used an LED fixture that fits into either; I love them! Both Sylvania and Cree make good ones.

What I like about the LED is the quality of the light -- clean and bright, seems to spread and illuminate better than compact flourescents. I picked the 3000k color temperature but LEDs come in a range from similar to incandescents to daylight.

They are supposed to use less energy and last much longer than CFLs also.

Other LED lighting options still include track lighting, rope or tape lights, and of course there are LED 'bulbs' to fit into any kind of fixture, in a range of lumens (watts).

There will always be a huge battle over recessed lights vs surface mount lights vs ...

In the end, it really is a personal decision based on style, cost, perception.

If you have the height, indirect lighting could be a very nice touch.

More info in the link below.

Here is a link that might be useful: Led recessed guide

Research, research, research... I am just finishing our build and I decided to do something nobody in the trade had ever heard of. I only installed 6 cans in my entire house. I had almost 50 in my plan layout but decided to use 4" j-boxes where I could. I had to install the 6 normal cans with LED gimble lights in my cathedral ceiling but all other rooms and soffits have 4" j-boxes with a "can light look alike" in it's place. My GC and electrician were pretty impressed with the quality and quantity of light produced by the LED lights I chose.

Home Depot sold these particular lights. I didn't want a bunch of cans sticking up into my attic. The j-boxes aren't as intrusive and are totally sealed. I know this isn't the norm... but check out my kitchen. I am very happy with my result.

Here is a link to the light I used. FYI... I had a friend try to install these in his kitchen and he didn't care for them. He chose to go with the same design that Lowes sold. The Lowes lights were a little warmer 3000k. These from Home Depot are 2700 but don't really seem that warm.

http://www.homedepot.com/p/Commercial-Electric-6-in-Recessed-Soft-White-LED-Can-Disk-Light-CE-JB6-650L-27K-E26/203596700

Good luck with your work...

Saftgeek-

I've used those too to convert existing junction boxes into what looks like a recessed light. Though branded "Commercial Electric" at HD, they're made by Cree and are high quality.